The Dangote Refinery has officially reduced the price of petrol to ₦699 per litre, a move that has sent waves across Nigeria’s fuel market. This reduction comes amid increasing calls for affordable fuel and reflects the refinery’s commitment to easing the burden on Nigerian motorists.
For years, Nigerians have struggled with fluctuating fuel prices, often spending huge sums on transportation and daily activities. The new price of ₦699 per litre is a welcome relief for both private car owners and commercial transport operators. Analysts predict that this reduction could also positively impact the prices of goods and services, as transportation costs form a major part of overall expenses.
The Dangote Refinery, one of Africa’s largest and most advanced refineries, has gradually increased its domestic output to meet local demand. By offering petrol at a lower price, the refinery not only strengthens its market position but also provides Nigerians with a more stable and affordable fuel option. Market experts say that this price drop may trigger competition among other fuel marketers and distributors in Nigeria.
Consumers are encouraged to take advantage of this period to save costs, while stakeholders in the transport and logistics sector may adjust their operations accordingly. It’s also worth noting that this price cut comes at a time when global oil prices remain unpredictable.
By maintaining petrol at ₦699 per litre, Dangote Refinery positions itself as a key player in stabilizing domestic fuel supply and pricings.
